POST-MARKET SUMMARY 27 June 2023
The markets ended the day on a positive note, as buying activity was witnessed in index heavyweights during the latter half of the day, leading to an upward movement in benchmark indices. However, despite the positive trend, the Nifty once again fell short of reaching its all-time high levels, ending the day approximately 70 points below that mark. Nifty managed to close above 18,800, shrugging off weak global cues, thanks to short-covering activities ahead of expiry day.
NIFTY: The index opened 57 points higher at 18,748 and made a high of 18,829 before closing at 18,817. Nifty has formed a Bullish candle on the daily chart, which supports an uptrend. Its immediate resistance level is now placed at 18,880 while support is at 18,700.
BANK NIFTY: The index opened 163 points higher at 43,804 and closed at 44,121. Bank Nifty has formed a bullish candle on the daily chart. Its immediate resistance level is now placed at 44,350 while support is at 43,700.
Stocks in Spotlight
▪ Axiscades Technologies: Stock was locked in at 5% upper circuit after the company completed re-financing of Rs 210 crore debt.
▪ Bharti Airtel: Stock gained 2% after the company announced changes in leadership in Airtel Business - its enterprise business arm.
▪ HDFC Twins: Stocks of HDFC and HDFC Bank gained nearly 1.5% after Chairman Deepak Parekh said the merger between both the companies is expected to be completed by July 1.
Global News
▪ European markets opened slightly higher on Tuesday afternoon before slipping into the red as investors monitored comments from central bankers at the ECB Forum in Sintra.
▪ Asia-Pacific markets traded mixed on Tuesday, after Wall Street’s tech sell-off which saw Tesla tumbling 6% after Goldman Sachs downgraded the electric car maker, citing pricing headwinds.
This document has been issued by Liquide Solutions Private Limited for information purposes only and should not be construed as
i) an offer or recommendation to buy or sell securities, commodities, currencies or other investments referred to herein; or
ii) an offer to sell or a solicitation or an offer for the purchase of any of the baskets of Liquide Solutions; or
iii) investment research or investment advice. It does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. Investors should seek personal and independent advice regarding the appropriateness of investing in any of the funds, securities, other investment, or investment strategies that may have been discussed or referred to herein and should understand that the views regarding future prospects may or may not be realized. In no event shall Liquide Life Private Limited and / or its affiliates or any of their directors, trustees, officers and employees be liable for any direct, indirect, special, incidental or consequential damages arising out of the use of information/opinion herein.
With Liquide, you can explore stocks, trade securely in your own broker account, and receive expert-recommended trade setups. Stay updated with real-time tracking, market commentary, and AI-powered insights from LiMo, our intelligent bot. Whether you're a seasoned investor or a newbie, Liquide provides the tools you need to discover your next big investment opportunity. Download the app now from Google Play Store and Apple App Store to revolutionize your investment journey. Don't miss out on the chance to level up your investing game with Liquide.